Greek state-owned gas company DEPA Trade is moving forward in its shift toward renewable energy with the launch of two large-scale solar power projects. Construction firms Terna and Aktor have been contracted to build the facilities under turnkey agreements worth a total of 270 million euros.
The larger of the two projects is a 400 MW solar power plant in Kozani, located in Western Macedonia. Once completed, it will become Greece’s largest solar facility, at least for the time being. The second project, a 100 MW plant, will be constructed near Larissa.
DEPA Trade recently concluded tenders for a total of 500 MW in solar capacity. These developments are part of a broader push to expand the company’s renewable energy portfolio, which now stands at 816 MW across various stages of development. The projects are being developed under the company’s subsidiaries North Solar, North Solar 1, and New Spes Concept.
The renewable energy sector in Greece is becoming increasingly competitive. Lightsource BP, backed by BP, began building a 560 MW solar plant in Central Greece last summer. Meanwhile, the state-controlled Public Power Corporation is close to completing a 550 MW solar facility in Ptolemaida, also in Western Macedonia.
To support its expansion into green energy, DEPA Trade secured a 390 million euro loan from the European Investment Bank in July of the previous year. This financing underpins its current solar development strategy.
The company’s latest investments follow its full nationalization after the state privatization fund TAIPED acquired the remaining 35 percent stake from Helleniq Energy, making DEPA Trade entirely state-owned.
